Question
In simulation 1 I am selling oranges Simulation 2 unit cost price earnings unit cost price earnings 1 $0.50 $1.44 $0.94 1 $0.50 $0.63 $0.13
In simulation 1 I am selling oranges Simulation 2
unit cost price earnings unit cost price earnings
1 $0.50 $1.44 $0.94 1 $0.50 $0.63 $0.13
2 $0.75 $1.29 $0.54 2 $0.75 $0.67 -$0.08
3 $1.00 $1.13 $0.13 3 $1.00 $0.82 -$0.18
Was the sale price I set the same as the equalibirium price? If different why according to the supply and demand model? Where did I go wrong between Simulation 1 and 2?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Global Marketing
Authors: Johny K Johansson
5th Edition
0073381012, 9780073381015
